Category Archives: Strategy

Right strategy is what you need to grow your construction company

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Before you start your day, you need to plan it well so that you can execute them and make your day somewhat useful. In the same fashion, while you are in the mode of setting up your construction company, it is important that you plan your things well so that you can execute them without any hassles. Please remember construction sector is one such sector where you can’t accurately assume anything. Situations may change anytime and you got to be ready to accept them and deal with them as and when they come up. Therefore you should be ready to take up any challenges that come your way. This preparedness to deal with any situation is possible if you have proper strategy in place. There are few things that are very crucial when it comes to laying down of strategies.

Strategies are often made by consulting the heads of all the departments. You need to know the ground situation before you come up with any plan. It is not feasible for you to know everything about all the sections of the company and this is why you need the help of the department heads to give inputs. Now once you have the inputs, you can put up your plan in front of them and check what they feel about it. Never plan something without a proper discussion. There has to be few Yes’s and No’s while you are in for a discussion and all of you have to come to a common ground. Once everybody is on a common ground, you can take that plan for implementation.

It is to be noted that not all plans are meant to be implemented right away. Some also needs to be kept in the parking lot so that it can be implemented at the right juncture. At the same time, the plans that you have executed should not be permanent in nature. Though you should give some time for it to work or to give desired results but if you see that it is not working, move on to something next before it causes severe damage to the growth prospect of the company. This movement of strategy is also known as flexibility which is the next important criteria towards the growth of the company. You should know when to move to the next plan and also you should not have difficulty while you are in switching mode.

Many companies find it difficult to switch plans. For instance if the prices of oil have risen drastically or the prices or raw materials have fallen, you should be ready to revamp your plans and perhaps do it all over again. Not doing things at the right time can cause severe problems to the company or at times you will not be able to make the most while others are minting money. You should also have the right people to get the job done. People who takes up their job passionately are needed to make hay while the sun shines.

Keep yourself open to suggestions, it will help you grow

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While starting any new project, the company or any organization generally holds discussion to obtain views of its professionals and managers before it is executed. The senior management give suggestions to modify or improve the project in order to make it successful. Suggestions are always important so that the projects/tasks get executed in a planned manner and yield benefits. It is type of ‘caution’ taken before taking a major decision..

 

While embarking on any major task/project a person has to think analytically and plan well to execute it properly. A person can do it all on his own and many times suffer from failures. This is due to the ego and rigidity of one’s ideas leads to short-sightedness which fail to see the shortcomings in a project leading to failures. In case of failures of large projects, it causes permanent destruction of that organization.

 

In order to avoid this difficult situation, it is good if a person (or a company) takes suggestions for a project or task from trusted colleagues, mentors, seniors or hire a consultant. They may guide in proceeding of the project by giving their suggestions:

  1. Check if the aim and objectives of a project are clear. If they are not clear then will suggest how modify the aims so that the objectives are achieved
  2. Check for the loopholes/shortcomings of a project and suggest how to overcome them.
  3. May indicate whether the project is feasible or not. If not feasible then suggest to not go ahead
  4. May indicate about the investment to be done and if it is possible. If it is a huge investment and difficult to manage then suggest for decreasing the size of project.
  5. May show the underlying problems of a project and suggest desirable changes to be made to face or overcome those problems.
  6. May indicate the chances of success and failures of a project. To avoid failures some alternatives may be suggested.
  7. They may give strategies for proper planning and execution of projects/tasks

 

Many a time suggestions are not taken seriously due to ego problems. The person may not be confident that the suggestions will help and may yield any benefits. Although this being a case in 90% cases taking suggestions from experienced people has proved beneficial for the project work and made it successful. This ultimately has boosted one’s self confidence to perform better for the next projects. Further it leads to personal and professional growth of an individual.

 

 

Knowing the nitty gritty of construction business is super crucial

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Before you try putting your hands into any kind of business you need to first have at least some basic knowledge about the trade. Only if you learn the trade well that you will be able to do it well and also taste success or else it will be an utter debacle. You will only experience losing all that you have, right from money to people and eventually your business. So keep your facts straight and give stress to learn the business well before you really pump your energy time and money into it. The people who will be associated with your business will look how confident you are and your confidence will come up with the kind of knowledge you possess. If you do not know much about your business, it will certainly reflect on your persona and that is going to be really bad.

Speaking about the construction industry, it will just not let you run the business if you have very little or absolutely no knowledge on how to function. There is high level competition in this business and more people are getting in into the rat race. So in order to outsmart them, you got to be a bit smarter first. Therefore, it is recommended that you work with some construction company for the first few years so that you understand the nitty gritty of the business. It takes time to learn something new and therefore you got to stick with the company for few years and not months. Check how to behave with the laborers, what compensation you are supposed to pay them, how things are coordinated and how people are hired. You also need to understand a bit of managerial and admin part where you learn the work of managers and know what they do to manage things so that it all moves so smoothly.

Knowing the work of admin will help you understand how the payroll things work. You do not have to know everything in detail. Just the basic understanding will do. You learn these things and can incorporate it in your business. Ideally big construction companies have people who advices the owners on these things. You may also need advices when you reach to that position but in order to understand their suggestions, you need to know what they are talking about. So knowing these things becomes crucial. Another important area that you need to touch is the procurement of heavy equipment and other raw materials. Also knowing where to dump the debris is crucial.

If you know someone who owns a construction business, you can start working with him to learn things. So work with him for few years and gain as much knowledge as you can and once you feel that you are confident enough to start a business of your own, you should take the initiative and give it a shot. You will get to know more things once you head up for your own business and may find the journey interesting and joyful.

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